“At $1.9 trillion, the annual regulatory burden in this country is greater than the income tax burden and roughly equivalent to half of what the federal government spent last year. The regulatory regime in Washington effectively functions as a 4th branch of government, and the current administration has been particularly shameless in abusing regulatory authority to try to implement an agenda against the will of the American people. The Task Force on Reducing Regulatory Burdens has produced a plan to put the interests of the American people above those of the Washington bureaucracy. When it comes to American energy, education, financial independence, innovation, and more, this plan promotes a healthier economy and more opportunity.

“Among the many positive solutions in the report is the idea of regulatory budgeting. The House Budget Committee has championed regulatory budgeting both in our budget resolution and as part of our ongoing effort to improve the Congressional budget process. Greater transparency means greater accountability. Giving policymakers tools to account for the cost and to rein in the proliferation of harmful rules and regulations will empower the American people while still ensuring responsible protections for the health of our citizens, our economy, and our environment.”

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“Since its inception more than 40 years ago, CBO has not undergone a comprehensive review. This series of hearings finally fulfilled this committee’s duty for proper oversight and broadened our understanding of CBO’s work and challenges.”

“While CBO directly assists the House and Senate Budget Committees, all lawmakers interact and engage with CBO. Proper oversight of this important congressional support agency requires a clear understanding of CBO’s relationship with all Members.”